With each side pushing, the U.S., and Europe cut what a U.S. official called a "combo deal." The U.S. agreed to make the goal of halving deficits a G-20 initiative, in exchange for G-20 support for language making growth the top priority, said a European official. President Barack Obama has already made similar deficit commitments back at home.

So... growth is their top priority, and yet leaders are going to halve deficits (by 2013). In other words, everybody gets their cake, etc.